A residential site at Jalan Kandis in Sembawang was launched for sale by public tender this morning (25 Feb) by the Urban Redevelopment Authority (URA).
Released under the confirmed list of the first half 2016 Government Land Sales (GLS) Programme, the 75,851 sq ft plot has a gross floor area of 106,197 sq ft. Offered on a 99-year lease, the site could yield about 110 low-rise condo units.
Located within an established residential area, the site is next to Sembawang Park, and within proximity to established schools and the Sun Plaza shopping mall.
Earlier reports had indicated that developers’ bids for this site are likely to be much lower than other prime sites closer to the city. The nearby Brownstone executive condominium (EC) site at Canberra Drive was awarded to CDL for $226 million in January 2014.
The tender for the land parcel at Jalan Kandis will close on 7 April 2016, said the URA.
Picture Source: Map of the residential site at Jalan Kandis in Sembawang. Source: URA
Source copied: http://www.propertyguru.com.sg/property-management-news/2016/2/118265/ura-launches-waterfront-site-in-sembawang